$32M Financing Deal Closes for MF Portfolio

Regions Southwest | Houston
$32M Financing Deal Closes for MF Portfolio
June 12, 2008

A financing package valued at $32 million has been put in place for the purchase of a 1,265-unit multifamily portfolio in Houston, Tex. The borrower, which is purchasing the five properties from Clark Lauderdale Co., relied on Capmark Finance Inc. to originate the floating-rate interim financing, which came in the form of a 75 percent LTV loan with a two-year term and the option for two one-year extensions. Proceeds from the loan will also be used to upgrade the property.

 
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